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The Economic Times
The Economic Times
Business

Rupee jumps 82 paise to 94.96 against US dollar in early trade

Indian Rupee US Dollar RBI Oil Inflation

The rupee appreciated 82 paise to 94.96 against US dollar in early trade on Tuesday, supported by various RBI measures aimed at reducing immediate dollar demand and curbing excessive positions in the foreign exchange market.

Forex traders said measures including a dedicated dollar window for oil marketing companies through designated banks and higher costs for certain foreign exchange hedging transactions, are expected to reduce dollar demand in the spot market and curb speculative positions against the rupee.

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